HomeBlockchainThe London Metal Exchange goes on the Blockchain

The London Metal Exchange goes on the Blockchain

According to a recent report by the Financial Times, the London Metal Exchange (LME) has decided to use the blockchain to track metals.

The LME appears to be working with Mercuria, a commodity trading company, to develop a blockchain-based system for monitoring trading of physical metals such as zinc, aluminium and the like.

The London Metal Exchange initiative is called Forcefield and would also be supported by banks such as Macquarie and ING.

Also on the Financial Times, Matt Chamberlain, CEO of LME, explained:

“[In a blockchain-based system] you know where your metal is, you have proof of your metal”.

Unfortunately, little is known about this initiative and, apart from the Financial Times, there has been no mention of it anywhere else and not even the members of the London Metal Exchange team wanted to comment on the news.

The LME is the world’s largest metal exchange and recently launched the LME Select to increase access to and sharing of the entire market database.


Amelia Tomasicchio
Amelia Tomasicchiohttps://cryptonomist.ch
As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist, and also PR manager for the Italian market at Bitget. She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.